Avnet, Inc. Announces Regulatory Approvals of Its Acquisition of Access Distribution

Business Wire, Dec 20, 2006

PHOENIX -- First graph, first sentence should read: Avnet, Inc. (NYSE:AVT) ("Avnet") announced today that it has received all required regulatory approvals, including clearance from the US Federal Trade Commission, the Competition Bureau Canada and the Commission of the European Communities, with respect to its proposed acquisition of Access Distribution, a General Electric company and leading value-added distributor of complex computing solutions (sted Avnet, Inc. (NYSE:AVT) ("Avnet") announced today that it has received all required regulatory approvals, including clearance from the US Federal Trade Commission, the Canadian Anti-Competition Bureau and the Commission of the European Communities, with respect to its proposed acquisition of Access Distribution, a General Electric company and leading value-added distributor of complex computing solutions).

The corrected release reads:

AVNET, INC. ANNOUNCES REGULATORY APPROVALS OF ITS ACQUISITION OF ACCESS DISTRIBUTION

Avnet, Inc. (NYSE:AVT) ("Avnet") announced today that it has received all required regulatory approvals, including clearance from the US Federal Trade Commission, the Competition Bureau Canada and the Commission of the European Communities, with respect to its proposed acquisition of Access Distribution, a General Electric company and leading value-added distributor of complex computing solutions. The acquisition, which was announced on November 6, 2006, is expected to close on December 31, 2006 and will be reflected in the results of Avnet's third fiscal quarter ending on March 31, 2007.

Forward Looking Statements

This press release contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current expectations and are subject to uncertainty and changes in factual circumstances. The forward-looking statements herein include statements addressing future financial and operating results of Avnet and may include words such as "will," "anticipate," "expect," "believe," and "should," and other words and terms of similar meaning in connection with any discussions of future operating or financial performance or business prospects. Actual results may vary materially from the expectations contained in the forward-looking statements.

About Avnet

Avnet, Inc. (NYSE:AVT) is one of the largest distributors of electronic components, computer products and technology services and solutions with more than 250 locations serving 70 countries worldwide. The company markets, distributes and optimizes the supply-chain and provides design-chain services for the products of the world's leading electronic component suppliers, enterprise computer manufacturers and embedded subsystem providers. Avnet brings a breadth and depth of capabilities, such as maximizing inventory efficiency, managing logistics, assembling products and providing engineering design assistance for its 100,000 customers, accelerating their growth through cost-effective, value-added services and solutions. For the fiscal year ended July 1, 2006, Avnet generated revenue of $14.25 billion. For more information, visit www.avnet.com.

About Access Distribution

Access Distribution, a General Electric company and part of the Capital Solutions business, is a premier value-added technical distributor of complex computer products, solutions and services. With headquarters in Westminster, Colo., its breadth and depth of service and expertise offers its partners industry-leading support as they take complex computer solutions to market. Access Distribution provides innovative solutions to increase its partners' profitability and competitive advantage as it focuses on leading technologies and services in the areas of network security, storage, enterprise applications software and the Sun Microsystems, Inc. systems platform.

Access Distribution has service, logistics and sales offices throughout the U.S. and Canada, and also has operations in Europe. For additional information and press announcements, please visit our web site at http://www.geaccess.com.